Question

The price elasticity of demand measures the: a. responsiveness of quantity demanded to a change in quantity supplied. b.responsiveness of price to a change in quantity demanded. c.responsiveness of quantity demanded to a change in price d.responsiveness of quantity demanded to a change in income.

Answer 1

B

Step-by-step explanation:

The price elasticity of demand is a term that is used to describe the response of price to a change in demand.

It is a measure of what happens to the price when there is a change in the quantity of goods demanded.

It thus measures the degree of change that occurs to the price once there is a change in the value of the quantity of goods demanded